- SEBI approves broking license
- Jio gains full control of Jio Payments Bank
- SEBI approval for mutual fund business
- What is Jio BlackRock Mutual Fund?
- Putting it all together
- What investors need to know about Jio Financial Services
- Final thoughts
Jio Financial Services (JFS) share is up over 3.8% today, adding to a nearly 10% gain in the last month. The stock has reacted to a series of updates, indicating that Jio Financial is moving from planning to actual execution across its financial services plans.
Here's what’s been happening in Jio Financial, starting with the most recent development.
SEBI approves broking license
SEBI granted a license to Jio BlackRock Broking Pvt Ltd to act as a Stockbroker and Clearing Member. This allows the company to offer stock broking and clearing services, and is a key step toward launching its investment platform.
Jio gains full control of Jio Payments Bank
Earlier in June, JFS took complete ownership of Jio Payments Bank. On June 18, it acquired 7.9 crore shares from State Bank of India for ₹104.54 crore. A week later, on June 25, it invested another ₹190 crore by subscribing to 19 crore new shares in the bank. Jio Payment Bank is now a fully owned and funded subsidiary. It’s expected to be the transactional base for other services like broking and mutual funds.
SEBI approval for mutual fund business
On May 27, SEBI granted registration to Jio BlackRock Mutual Fund and also approved Jio BlackRock Asset Management Pvt Ltd to act as the AMC. This clears the way for Jio Financials to launch mutual fund schemes. The structure was already in place with in-principle approvals and company incorporation in 2024.
What is Jio BlackRock Mutual Fund?
Jio BlackRock Mutual Fund is a 50:50 joint venture between Jio Financial Services and global asset manager BlackRock. SEBI gave it final approval on May 27, 2025, allowing it to officially operate as a mutual fund house in India.
Sid Swaminathan, a former senior BlackRock executive, has been appointed as CEO. The platform is expected to take a digital-first approach, using Jio’s reach and BlackRock’s investment tech to offer mutual fund products aimed at retail investors.
Putting it all together
Jio Financial was carved out of Reliance in 2023 to build a full financial services platform. Over the past year, it has secured approvals, restructured ownership, and set up joint ventures. It now has a fully owned payments bank, a broking license, and a registered mutual fund, giving it presence across banking, broking, and asset management.
What investors need to know about Jio Financial Services
- Broking license secured, but it’s unclear if Jio Financial plans to offer retail broking services or focus on institutional segments.
- Jio Payments Bank is now fully owned, with ₹190 crore additional capital
- The mutual fund business got SEBI approval on May 27, and the AMC is ready
- JFS now has a presence across banking, broking, and mutual funds
- Execution will be the next phase; growth depends on rollout, adoption, and competitive positioning
- Backed by Reliance, which gives it capital strength and a large user base to tap into
Final thoughts
Jio Financial’s recent share rally is backed by concrete progress. In the last few weeks, it has secured key approvals across all its core verticals. The foundation is now in place. What happens next will depend on how quickly the company moves from approvals to launches, and how it competes in an already crowded space.
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